Now NRIs can subscribe to NPS: RBI

This will help NRIs access old age income security

Reserve Bank of India (RBI) has said that it has enabled National Pension System (NPS) as an investment option for Non-Resident Indians (NRIs) under FEMA 1999.

Decided in consultation with the government, the move will help NRIs access old age income security.

Here, NRis can subscribe to the NPS governed and administered by the Pension Fund Regulatory and Development Authority (PFRDA), provided such subscriptions are made through normal banking channels and the person is eligible to invest as per the provisions of the PFRDA Act.